On the EUR.USD Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.0757 & 1.0871
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.0400
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0597
Target 2 - 1.0498
The price reversal zone on this pair is between 1.0757 & 1.0871
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.0400
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0597
Target 2 - 1.0498
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4hr setup still available.
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Have a good weekend traders!
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This is one setup I will be watching into the middle of this week.
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Cypher D leg now complete, a short opportunity is now available.
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A pullback is expected before a push lower into next week.
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